Moving to Portland want to get my first multi unit property

[Suavek Kownacki]

Hi,

I'm finally moving to Portland area. Looking at east of the river since work is in Clackamas and i've seen the traffic can get real bad.

Been a few times and i love the greenery and water. You guys have it all! 

About me:
Own a house in San Diego area that i will keep and rent out before the move.
Looking to rent for a bit in Portland just to familiarize myself with the area. 

Looking to buy within a year 
2 or 3 plex for starters
budget: ~550K 
have ~150K for dp
looking to live in one of the units with wife and 2 kids and rent the rest to offset mortgage.

Seeing as work is in Clackamas and i don't want to be stuck in traffic, where do you guys recommend?

I have read that Cap Rate in Portland is in the range of 4-6% is that true? looks like its much more lucrative than that!

Also noticed expenses for some of the multifamily are higher than i would guess, does that mean there are landlord responsibilities such as water or trash or ?? - what should i look out for when becoming a landlord in OR?

My first post here, so bear with me.
Thanks and looking forward to your replies.

[Neal Collins]

@Suavek Kownacki If you're going to be working in Clackamas I'd really look hard at areas like Milwaukie, Gladstone and Oregon City. Tons of kids down there, not as high of prices as Portland, but still plenty of demand. Couldn't be a better move to get into a small multi while interest rates are still low and you can offset living costs.

High expenses can be a hidden areas of revenue. Simply billing back for water/sewer can save you tons of money each quarter.

Happy to discuss more.